In this paper a preliminary design and a 2D computational fluidstructure interaction (FSI) simulation of a flexible blade for a Wells turbine is presented, by means of stabilized finite elements and a strongly coupled approaches for the multi-physics analysis. The main objective is to observe the behaviour of the flexible blades, and to evaluate the eventual occurrence of aeroelastic effects and unstable feedbacks in the coupled dynamics. A series of configurations for the same blade geometry, each one characterized by a different material and mechanical properties distribution will be compared. Results will be given in terms of total pressure difference, supported by a flow survey. The analysis is performed using an in-house build software, featured of parallel scalability and structured to easy implement coupled multiphysical systems. The adopted models for the FSI simulation are the Residual Based Variational MultiScale method for the Navier-Stokes equations, the Total Lagrangian formulation for the nonlinear elasticity problem, and the Solid Extension Mesh Moving technique for the moving mesh algorithm.